Remodel or Sell?

Home Improvement Tips to Potentially Increase Property Value

Your home is one of the largest financial investments you’ll ever make in your lifetime. And, while property values are determined by national variables, the economy and local market conditions, you can achieve a solid re-sell value on your investment by attending to the care and upkeep of your property.

Whether you’re planning to add additional space, upgrade your kitchen with new appliances, or are ready to put your home on the market, a few essential home improvements may significantly increase your home’s re-sell value.

Home Enhancements, From the Buyer’s Perspective

Your REALTOR® will help you focus on how buyers perceive the value of your home, and help you develop a customized plan to identify enhancements that can pay for themselves in stronger offers from buyers. These changes and upgrades can make a real difference in how quickly your home sells and the price you are able to obtain for it.

Please feel free to call or email your Coldwell Banker Village Green Realtor whenever you have any specific questions.

Kitchen Makeover

According to Remodeling Magazine, money spent to upgrade a kitchen produces the highest return on investment, perhaps one of the reasons why the kitchen is the most popular room to remodel. “Hot” kitchen makeover trends include adding dual sinks, cooking stations, extra-long dishwashers, under-cabinet lighting, warming ovens and wine coolers.

Bathroom Fixer-Upper

Upgrading a bathroom is also a sound choice that will usually provide a significant return on investment. Large bathrooms are typically on the top of the list of priorities for those seeking to purchase a home. Other attractive selling features include adding skylights, glass block windows, ceiling fans and sunken whirlpool baths. If you don’t have the room to expand, or if you don’t think you’ll be living in your home long enough to enjoy the improvements and/or see a return on this level of investment, stick with neutral, mid-builder level updated cabinetry, refreshed flooring and shower/tub, or a new sink and toilet.

Room to Grow

Adding a room or two, such as a spare bedroom or study, is a significant home improvement that you will enjoy and take advantage of every day. When it comes time to sell your property, it will also provide you with the potential for a good return on your investment.

Landscaping the Property

A professionally landscaped yard can certainly increase the “curb appeal” or desirability of a home. And beautifying your lawn can be one of the most inexpensive home improvements. Additional simple landscaping projects include trimming and edging the grass, manicuring trees and shrubs to open up the view of the house, removing dead plants and trees, and planting flowers to brighten up the yard.

Repair Jobs

If your roof needs fixing or your chimney has to be reappointed, these essential repairs should take precedence over interior updating and remodeling. Though many homeowners may want to upgrade their kitchen, it’s wise to prioritize necessary repairs over cosmetic changes. This applies to both sellers and those who plan to stay in their home for years to come, as neglect of essential repairs will cause a home to lose value. It is vital to attend to minor problems such as leaky faucets or loose cabinets to ensure your home doesn’t undergo any long-term damage. As soon as you notice a problem, fix it to help avoid a larger expense down the road.

Cosmetic Touch-Ups

A paint job, new double-paned windows and new carpeting will increase the price of a house virtually dollar-for-dollar. Neutral colored paint and eliminating clutter can make a world of difference. However, don’t go overboard with home improvement projects that will push your home too far above the current value of homes in your neighborhood. Your home should meet the standards of other houses in your neighborhood, but you do not want to price yourself out of the market.

Home Improvement Professionals for Hire

Whether you need an architect, gardener, interior designer or contractor, do a background check prior to hiring a professional. Get references from family or friends, and interview them. Checking references is critical. The most important quality to look for is trust, not initial price.

Financing Options

Coldwell Banker Mortgage Program offers a number of options for homeowners looking to upgrade their homes. These include cash-out refinancing, home equity line of credit, or second mortgage. Your Coldwell Banker Village Green Realtor can provide you with current interest rates and mortgage prices, repayment options, and professional mortgage advice. For more information, visit www.coldwellbankermortgage.com

Please call or email today to set up an appointment with your Coldwell Banker Village Green Realtor to discuss the home enhancements that will help sell your property more quickly and at the highest possible price.